Exploring Different Credit Card Options for International Students in the U.S.
March 22nd, 2023 by IEFA
The overall process of obtaining a credit card as a non-citizen in the United States can appear daunting, especially without a Social Security number. However, international students can get credit with credit cards without needing social security information. Here, we’ll provide more on different credit card options for non-citizen students in the U.S.
The key to acquiring student credit cards in the U.S. is knowing which cards you’re eligible for and understanding their requirements. Before we look at the different international student credit cards available, let’s look at the challenges non-citizen students face when getting a credit card!
Challenges to Overcome When Acquiring a Credit Card
First, you need to look at the requirements set by the credit issuer carefully and thoroughly because the requirements for each credit issuer vary. For instance, most credit companies in the U.S. require a social security number, whereas others waive this requirement. Holders of F-1 or J-1 visas can apply for a social security number via the Social Security Administration (SSA) to ease the process of acquiring a credit card.
Another challenge international students encounter is the need for a bank account in the U.S. Before getting a credit card, you need to open an account. Obtaining a bank account in the U.S. makes it easier to manage and keep track of personal finances. For example, you can easily monitor what you have and what you owe.
Let’s dive in!
Best Credit Card Companies for International Students
Non-citizen students pursuing higher education in the U.S. can get credit cards without a Social Security number or extended credit history from the card issuers. Below are credit card options you can consider:
Deserve EDU Mastercard
The Deserve EDU Mastercard is an excellent option for students because it doesn’t require applicants to provide a Social Security Number. The credit card is best for Amazon Prime benefits, and other perks such as:
- Up to US$59 in Amazon Prime Student subscription reimbursement upon spending $500 on your card in three billing cycles of account opening
- 1% back in rewards for each dollar spent
- No foreign transaction fees
- No security deposit
- No annual fee
- 20.99% variable APR
Generally, the Deserve EDU Mastercard for students won’t charge any security deposit or annual fee. In addition to the benefits mentioned above, students are also eligible for US$30 in rewards for every referral.
Petal-2 Visa Credit Card
International students can acquire a Petal-2 visa credit card from WebBank. You can apply for a credit card without a Social Security number. However, you must provide an Individual Taxpayer Identification Number (ITIN). ITIN is a federal income tax reporting requirement for non-citizens and international students.
International students with ITIN can apply for Petal-2 Visa Credit Card and begin earning 1% back on total spending. Continued use of the card increases the cash back to 1.25 percent in six months and 1.5% after 12 months of on-time payments.
Petal-2 visa credit card comes with a minimum credit limit of US$300 up to US$10,000, depending on creditworthiness. The credit card is user-friendly as it doesn’t charge an annual or foreign transaction fee. Above that, the company has a mobile app that allows you to pay on the go and keep track of your spending. Petal-e visa credit card is best for a flat cash back reward.
Why consider this credit card:
- 15.24% to 29.24% variable APR
- No security deposit needed
- 1-1.5% cash back on transactions upon making on-time payments
- 2-10% cash back at select merchants
Capital One Quicksilver Student Cash Rewards Credit Card
Are you looking for a credit card for your everyday spending? Look no further than Capital One Quicksilver student cash rewards offering enticing 1.5% cash back on all everyday purchases. The credit card launched in August 2021, and international students can apply with an ITIN rather than using a Social Security Number. In addition, credit cards are accessible for students with fair credit bureaus.
The Capital One Quicksilver Student Cash Rewards offers one of the most competitive reward rates on the student credit card. Cardholders are eligible to earn a flat 1.5% cash back. You can choose varying options in which you prefer to receive your cash back rewards. Options available include gift cards, checks, statement credits, or applying rewards directly to new purchases.
Why choose it:
- 16.49% to 26.49% variable APR
- No foreign transaction fees
- No annual fee
- Unlimited 1.5% cash back on daily purchases
Capital One SavorOne Student Cash Rewards Credit Card
The Capital One SavorOne Cash back reward launched in August 2021 and is an excellent option for students seeking to incorporate credit cards in dining and entertainment. International students can acquire a credit card with an ITIN.
The credit card offers 3% cash back on select categories, including entertainment, streaming services, dining, and grocery stores (excluding Walmart and Target).
Apart from rewards from select merchants, the Capital One SavorOne reward for students integrates unlimited 1% cash back on general purchases. In addition, students can build up cash rewards for an extended time since the cash back rewards generated with Capital One credit cards don’t expire.
Why select it:
- 16.49% to 26.49% percent variable APR
- No foreign transaction fees
- No annual fees
- 1% cash back on general purchases
- 3% cash back on dining, grocery stores, entertainment, and streaming services
Journey Student Rewards from Capital One
International students in America can apply for the Journey Student Rewards from Capital One using an ITIN in lieu of a Social Security number. Cardholders receive 1% back in rewards. Additionally, they can enjoy 1.25% back once they process their credit card bill on time.
International students can benefit from this credit card that features no foreign transaction fee/ annual charge. In addition, Capital One usually reviews the credit card account for credit line increases after six months of purchase activity.
Why choose it:
- 26.99% variable APR
- No foreign transaction fees
- Offers unlimited 1% perks back on all spending (get 1.25% on on-time credit bill payment)
- Unlimited 5% cash back on bookings (hotel and rental cars) via Capital One Travel.
Chase Freedom Student Card
Non-citizen students can apply for a Chase freedom student credit card using an ITIN without providing a Social Security number. The credit card offers flat 1% cash back on daily spending. Card owners can also enjoy 5% cash back on Lyft and a US$50 sign-up bonus upon initial purchase after opening the account.
The Chase Freedom credit card for students charges a 3% foreign transaction fee, unlike other credit cards with free foreign transactions. However, international students can access their credit scores for free with Chase’s Credit Journey program and the card has no annual fee. In addition, you’ll earn US$20 in Good Standing Rewards yearly for the account anniversary.
Why choose this credit card:
- 16.49% variable APR
- No annual fee
- 1% cash back on all spending
- US$50 bonus upon making your first purchase within three months of opening the account
- US$20 credit for accounts in good credit standing every year (for five years).
Tips to Get a Credit Card as an International Student
Some practices can optimize your chances of obtaining a credit card for international students.
- If you’re applying for a United States based credit card, wait until your arrival in the U.S. This is because most U.S. credit cards require a stateside address for approval.
- While applying for credit cards in your home country, ensure the credit card option doesn’t charge foreign transaction fees.
- Apply for an Individual Taxpayer Identification Number (ITIN). An ITIN can increase your options of getting a United States credit card, especially if you lack a Social Security Number (SSN).
- Check your eligibility for a Social Security number. International students with F-1 visas can access SSNs. In addition, the U.S. Department of Homeland Security provides relevant information on its webpage for international students.
Benefits of Having a Student Credit Card
Students studying abroad can garner many benefits from a credit card. Below are some of these benefits;
- Build a good credit history through on-time repayments
- Learn financial discipline/how to use money
- Excellent backup plan
- Avoid overdrafts
- Gain rewards/perks
FAQs
Can an International Student Get a Credit Card in the U.S.?
International students are eligible for credit cards if the credit card issuer accepts Individual Taxpayer Identification Number (ITIN) to substitute Social Security number. Students with limited credit history may need additional consideration for approval for credit card applications, i.e. cosigner, proof of income, etc.
Which Credit Card is Best for International Students?
The best credit card for non-citizen students studying in the United States is one that provides high rewards on purchases, charges no foreign transaction fees, and is eligible for students without a Social Security number. Examples of such cards include: Deserve EDU Mastercard, Capital One SavorOne rewards for students, and Capital One Quicksilver reward credit cards for international students.
Can an International Student Get a Credit Card without an SSN?
Yes. Some credit card companies accept ITIN as a substitute for Social Security numbers for international student credit card applications.
Which Credit Card is Best for International Students in the U.S. without an SSN?
Credit card companies such as Capital One, Discover, and Chase issue credit cards to international students without SSNs. International students without SSNs can consider students credit card issuers who accept ITIN instead of SSNs.
Before selecting a particular credit card company, weigh the options available. Different credit card issuers integrate a varying set of requirements and rewards. International students seeking the best credit card can consider companies like Discover, Capital One, Deserve, and Bank of America. Wrapping up, ensure you choose the best option for you!
*Information accurate as of March 2023
Resources
https://www.forbes.com/advisor/credit-cards/best/student/
https://educationusa.state.gov/your-5-steps-us-study/apply-your-student-visa/short-term
https://www.wes.org/advisor-blog/building-your-credit/
What is the least amount of money needed to obtain credit card for international students in the US?
Hi there,
Thank you for reaching out with your question. While we appreciate your interest, please understand that we cannot provide personalized advice as the appropriate solution can vary greatly depending on individual circumstances and specific details. However, here is a helpful article that might offer some general insights relevant to your query. You can find it here: https://blog.iefa.org/2023/03/06/credit-card-requirements-restrictions-international-students/